US natgas futures fall 4% to two-week low on lower demand forecast

US natgas futures fall 4% to two-week low on lower demand forecast

From boereport.com

U.S. natural gas futures fell about 4% to a two-week low on Friday on a collapse in global gas prices, record U.S. output, rising Canadian exports and forecasts for milder U.S. weather and lower than previously expected demand next week, which includes the U.S. Memorial Day holiday on Monday. Prices declined despite a lack of wind power in recent weeks that forced power generators to burn more gas to produce electricity, reducing the amount of gas left over to go into storage. The amount of U.S. power generated by wind dropped to 7% of the total so far this week versus a high of 17% during the week ended April 21, ... (full story)

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